The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-04-26

intersect the L., n. A. & e. railway at this
point. This alone has afforded stimulus to
Ladoga, and real estate transactions have been
quickencd, although prices have not materially
advanced. 1t is now evident that Ladoga has
never enjoyed such a building season as she will
have this year; and. should gas coal be found,
her people will offer liberal inducements to
man ufacturers others who may wish to locate
here.
PARAMOUNT OPENS A BIG WELL.
Special to the indianapolis Journal.
PARAMOUNT April 25-The flow of gas devel
oped here to-day at depth of 957 feet excels. in
point of quantity and quality. any well YET de-
ve,oped in this section of the State. Gentlemen
from Jonesboro, Anderson and Marion who
were here to-day, concede that it excels any
thing to be found in either of those
towns. The gas escapes from two
two-inch pipes with very heavy
pressure and the flame reaches the height of the
derrick-seventy-t three feet. The pressure has
not yet been tested, but some idea Of it's force
cans tossed in the flow were thrown eighty feet
in the air. The drill was withdrawn on Satur-
day and presumably operations were suspended.
but better judgment prevailed and this morning
the drill went down in quest of larger flow and
the efforts rewarded as above stated Trenton
rock was penetrated twenty three feet.
This great find gives fresh impetus to an al
ready f1ourishing and prosperous little city, and
the future prospects OF paramount are most nat
tering. Surrounded, 1t is, by the best farm
ing land to be found in the State Paramount has
cause to believe that substantial growth will
ensue. Already capitalists are here, and many
transfers of real estate are noted, among
the largest being the sale of the
Wlnslow farm, east of this place, for $40, 600.
John Inks farm, one mile and a half east of
Paramount 260 acres, sold at a fabulous
price, your correspondent being unable to as
certain the exact figures. Property on Main
street is selling fast, and in less than week it is
expected that all real estate in the business por
ton of town will have changed hands. There is
some talk of drilling another we'll.
PROSPERITY OF KOKOMo.
Special to the indianapolis journal.
KoKoMos April 25-Each day brings the per-
manent location OF some important industry
here. The oona-fide property sales for last week
foot up 1925 O00 A company of capitalists from
Dayton, o., will build system of street railway
here this summer. Four new additions to the
city have been laid out-Maple Mound, Walnut
Hill. Mount Glenn and Fostoria. and several
hundred houses under contract to meet the
wants of the increasing population. The specu-
lator who hampers progress with options and
other illegitimate schemes is not found here. and
splendid inducements are open to all who mean
business. Free gas and a location will be given
to all who desire to get into the swim" in live,
progressive town.
FORGE WORKS FOR PORTLAND.
Special to the Indianapolis Journal.
PORTLAND April 25.-The establishment of a
steam forge works. to employ one hundred men,
was secured here tonight by a cash donation by
citizens of $40, 900. Natural gas will be used
for fuel.